LPL Financial LLC Boosts Stock Position in Archer Aviation Inc. (NYSE:ACHR)

LPL Financial LLC increased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 154.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,442 shares of the company's stock after buying an additional 167,664 shares during the period. LPL Financial LLC owned 0.07% of Archer Aviation worth $2,695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after acquiring an additional 1,095 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in shares of Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. Tidal Investments LLC increased its holdings in Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after buying an additional 3,339 shares during the period. US Bancorp DE raised its stake in Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock worth $44,000 after buying an additional 4,306 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in Archer Aviation by 50.0% during the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company's stock worth $45,000 after buying an additional 5,000 shares during the period. Institutional investors own 59.34% of the company's stock.

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Archer Aviation Price Performance

NYSE ACHR traded down $0.13 during mid-day trading on Wednesday, hitting $7.00. The stock had a trading volume of 1,941,556 shares, compared to its average volume of 20,298,765. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm's 50 day moving average is $8.08 and its 200 day moving average is $7.21. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -5.31 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. Equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Needham & Company LLC increased their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.61.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 33,335 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares in the company, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company's stock, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock worth $3,158,081 in the last quarter. Company insiders own 9.75% of the company's stock.

Archer Aviation Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.